A power of attorney is a legal document that grants an individual (usually a family member or trusted friend) the ability to make financial, medical, and end-of-life decisions on your behalf should you become incapacitated. If you are in the process of making end-of-life decisions, you are probably aware that you should have a will and other measures to manage your assets after you pass. However, some people overlook what can happen if they should become ill or disabled and become unable to act on their own behalf. Having a trusted family member, friend, or representative managing your medical, financial, and end-of-life decisions can be incredibly important.
Yet, powers of attorney can be complicated matters. According to the Tennessee Commission on Aging & Disability, individuals who are considering appointing a representative to manage their affairs are advised to hire a power of attorney lawyer in Nashville, Tennessee. Elder Law of Nashville PLC works closely with families and individuals who want the peace of mind of knowing that their wishes will be honored when the time comes to make medical, end of life, or financial decisions on their behalf. Individuals may choose to draft a power of attorney if they have been recently diagnosed with dementia, Alzheimer’s, Parkinson’s, cancer, or some other disease that may require long-term care. Others consider a power of attorney an asset to protect their rights and wishes as they age. Elder Law of Nashville PLC are power of attorney lawyers who can help you make decisions now—when the power to make those choices is still in your hands.
Giving Someone a Power of Attorney: What You Need to Know
When you give someone a power of attorney, it is important to consider first who will be responsible for making decisions on your behalf as well as what decisions they will be permitted to make. Individuals should only grant power of attorney to people they trust. Additionally, how your power of attorney is drafted can also stipulate what kind of decisions can be made. The person who has the authority to make decisions on your behalf should be aware of what decisions you want made. For instance, individuals sometimes have medical wishes or other wishes that they would like honored should time become short.
You have a wide range of options when it comes to making a power of attorney in Tennessee. You can limit the scope of the document and stipulate under what conditions it will become valid. Power of attorney matters in Nashville, TN can become complex. Therefore it is important to seek the counsel of a qualified lawyer. Elder Law of Nashville PLC works closely with individuals and families, helping them find the answers and peace of mind they deserve.
My Loved One Has Granted Me Power of Attorney: Now What?
If your loved one has granted you power of attorney, you may have many questions. You may suddenly find yourself having to make tough financial decisions. You may be called upon to make medical decisions on behalf of your loved one. If you are granted power of attorney, you have important legal responsibilities. If you are not sure what to do, it may be wise to speak to a qualified power of attorney lawyer in Tennessee, like Elder Law of Nashville PLC. Our lawyers can review your power of attorney and help you understand your rights and responsibilities.
If you have been made a fiduciary, you may be asked to manage another person’s money under their power of attorney. This comes with important rights and specific responsibilities under the law. For instance, as a fiduciary, you must make decisions to benefit the person whose interests you are appointed to serve. This is a legal duty. You are required to act in the person’s best interests, manage money with care, keep your money separate, and keep records. According to the Consumer Financial Protection Bureau, failure to honor these requirements can result in a lawsuit or even criminal charges.
A power of attorney is an important legal document. If you have been granted the ability to make decisions on another person’s behalf, you may be overwhelmed with the immense responsibility you now have. Elder Law of Nashville PLC are compassionate and caring power of attorney lawyers who can assist you as you navigate the legal concerns that can arise when a power of attorney comes into effect.
Peace of Mind for the Future
If you and your family are struggling with the long illness of a loved one, you may have many questions. What happens if you become ill and are unable to make decisions? How can you be sure your medical wishes will be honored? If you have a “do not resuscitate” in place, how will you be sure that medical staff understand your wishes? A power of attorney appoints a person you trust to ensure that your wishes are carried out, should you become too ill to make decisions for yourself. Depending on your needs, your power or attorney could be relatively simple or complex. However, because you could be potentially granting another person immense power over your affairs, it is generally wise to consult with a qualified lawyer if you are considering putting a power of attorney in place. Contact Elder Law of Nashville PLC today. Our power of attorney lawyers work hard to help families find the peace of mind and answers they need. By planning now, you will be prepared to handle the tough questions in the future.